The Paymentech boom has accelerated with the emergence of new technologies including Blockchain, digital currencies and Open Banking over the last few years. Regulation and the emergence of PSD2 in Europe in 2015 has since exceeded projections with the influence of COVID-19. Similarly, financial authorities around the world have started to review their stance on Paymentech.
Customer acquisition is the primary focus of most Payment Service Providers (PSPs) when entering this highly competitive landscape. Technology strategies and infrastructure are at the core of ensuring Payments Service Users’ (PSUs) expectations are met and PSPs gain a competitive advantage.
This paper aims to discuss where the shortcomings are for these firms, and why the AutoRek Payments Platform is perfectly positioned to help PSPs overcome these challenges.
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